A one-time tax rebate for the residents of Honolulu has just been approved, amounting to $350.
Wakiki Beach, Honolulu (Photo: Dreamstime.com)
The Approval of the One-Time Tax Rebate
Honolulu residents may soon get a $350 one-time tax rebate after the City Council has approved the $3.41 billion operating budget for the city. This one-time tax rebate, in particular, is for the owner-occupant property owners of the city. Over 150,000 homeowners, in estimation, would be eligible for this one-time tax rebate. The original one-time tax rebate cost was just $300, but the Council raised it to $350. The tax rebate has just been approved recently last Wednesday.
The residential property tax rate in Honolulu costs $3.50, depending on a home’s value. Hence, the one-time tax rebate of $350 would have an impact on a home’s appraisal by $100,000. The homeowner would owe less if the appraisal would not go beyond the $100,000 mark. Those with an owner-occupant exemption will have the amount of the one-time tax rebate deducted from their bill automatically.
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Other Budgets Approved For Honolulu Residents
Aside from the one-time tax rebate, the operating budget of $3.41 billion includes the budget for improving the city’s police department, which is $43 million. To help the homeless, the city allocated $35 million, and for developing housing sites that are more affordable, the council approved a $170 million budget.
The capital improvement plan’s budget for 2024 has also been approved by the City Council, amounting to $1.34 million. The plan would cover Honolulu’s housing programs, train system, and sanitation projects. A budget for transportation has also been approved.
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